Thread regarding Oracle Corp. layoffs

EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit against Oracle Corporation – ORCL

https://finance.yahoo.com/news/equity-alert-rosen-law-firm-223400469.html

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.... According to the lawsuit, throughout the Class Period defendants issued false and misleading statements regarding Oracle’s cloud revenues and failed to disclose that these revenues were driven, at least in part, by improper, coercive sales practices, which included: (1) threatening existing customers with “audits” of their use of Oracle’s non-cloud software licenses and levying expensive penalties against those customers, unless the customers agreed to shift their business to Oracle cloud programs; (2) decreasing customer support for certain Oracle on-premises or hardware systems, in an effort to drive customers away from such systems and into cloud-based systems; and (3) strong-arming customers by threatening to raise the cost of legacy database licenses dramatically if the customers choose another cloud provider.

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Can't wait to join a class action lawsuit against Oracle. Is it a surprise to anyone how poorly Oracle treats their customers? I remember listening to the VP in Cloud Product Development go on and on about all these cloud sales. How wonderful things were... blah blah blah. Company deserves to be sued.

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